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23.9% Electric Rate Increase Request by AEP Appalachian Power

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  • Cornstoves
    5/1/08, ROANOKE, Va. (AP) - AEP Appalachian Power requested permission from the Virginia State Corporation Commission to raise its electric rates 23.9%
    Message 1 of 1 , Jun 25, 2008
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      5/1/08, ROANOKE, Va. (AP) - AEP Appalachian Power requested
      permission from the Virginia State Corporation Commission to raise
      its electric rates 23.9% retroactive to June 29, 2008. APCO cites
      cost increases for environmental compliance, transmission,
      distribution and system reliability. Not mentioned in the application
      are fuel escalation cost which are in addition to the 23.9% increase
      for normal operation.

      A residential customer using a minimal 1,000 kilowatt hours of
      electricity per month would increase from $71.48 to $88.01 per month
      for normal operating cost plus fuel escalation rate hikes and
      retroactive charges. Some Abingdon Virginia residents realized a 400%
      monthly electric rate increase from a recent request by AEP APCO.

      Dana Waldo, APCo's president and chief operating officer, said the
      rate hike two years ago is insufficient for the utility

      The filings come just one day after the SCC denied APCo's request to
      reconsider its earlier rejection of rate increases in Virginia to
      recover cost of a coal-fired plant in West Virginia. APCo filed to
      recover from Virginia as much as $1 billion of $2.23 billion cost of
      a West Virginia Power Plant.

      www.scc.virginia.gov/case

      http://www.wtop.com/?nid=25&sid=1412870
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